Legacy Records, the premier record label paying crypto musical artists

From painters to digital artists to musicians, crypto continues to integrate into all artistic mediums. Music continues to be a ripe area for revitalization, from a business perspective. As a result, a number of different musicians have released songs and albums in the form of NFT. Now we have what is reported as the first official label looking to get involved. The label is looking for artists to join the ranks of other musicians involved in cryptography.

Two-pronged approach

In a press release released to begin this week, Keishia McLeod, CEO of Legacy Records, said it was about “getting involved or being left behind.” McLeod cited unique income opportunities for artists and concluded by saying “this is the future, not a trend”. McLeod has previously stated his intention to lead the label to be at the forefront of harnessing emerging technologies in music.

Legacy’s approach consists of two main segments. The former is the most notable, as the label will become the first to offer artists the option of receiving their advance and royalties in the form of crypto. The second is to engage artists with NFTs, allowing fans to participate in auctions for unique content. The label’s specific plans regarding NFTs and the number of artists seeking to be paid in crypto have yet to be disclosed.

Related reading | The “hottest” NFT: Max Denison Pender creates and destroys a self-portrait in a volcano

As the crypto market grows, both artists and businesses are getting involved | Source: CRYPTOCAP-TOTAL on TradingView.com

Wider Business Growth of Legacy Music

Las Vegas-based Legacy Records, not to be confused with Sony’s Legacy Recordings, will be looking to capitalize on the potential buzz of the announcement. However, alongside the release, the label also announced a future music distributor who also agreed to pay the Legacy Records artists in bitcoin. The label also merged with New Jersey entertainment lawyer Navarro Gray’s “The Gray Firm” to provide legal advice on digital execution.

McLeod previously noted that the label wanted to be a mainstay in revolutionizing the way music artists do business. In an interview with the LA Tribune in January, McLeod cited Netflix’s impact on the film industry, adding that “we haven’t seen this in this industry yet, but it’s happening. We are going to play an important role in making this happen ”.

Related reading | Topps MLB First Swing Review at NFT Tech

Music artists are emerging in crypto

Legacy’s roster has the potential to join a growing roster of musical artists who continue to engage with crypto and NFTs. Last month, we wrote about longtime hip-hop artist Eminem who partnered up with Nifty Gateway to release original instrumental rhythms. Saturday Night Live Quickly got a sketch explaining Eminem’s “Without Me” parodying digital collectibles.

Other musicians engaging with NFT include DJ Premier, 3LAU, The Weeknd, Mike Shinoda of Linkin Park, and more.

Each week our team recaps the NFT action of the week with ‘NFTs In A Nutshell’ – covering everything NFT, sports, music, and more.

Featured image from Pixabay, Charts from TradingView.com

Leave a Reply

Your email address will not be published.